Foreign takeovers of UK companies this year are worth more than three times those of UK companies buying abroad, according to government figures.

Deals where foreign companies bought in the UK rose to £60.7bn (€90.3bn) by September 30, compared with £50.3bn for all of 2005. Overseas takeovers by UK companies fell from £19bn in the first nine months of 2005 to £17.4bn this year, according to the Office of National Statistics. The UK’s M&A gap has widened from £31.3bn to £43.3bn, on course for a third consecutive annual deficit.
David Brooks, head of M&A at accountancy firm Grant Thornton’s corporate finance arm, said: “Foreign companies are on a acquisition spree in the UK. UK companies, on the other hand, lack the ambition and vision of their foreign peers and are in danger of losing out in the race to be global leaders.”
The rise in net sales comes after German gas group Linde bought UK rival BOC for £8.2bn and a Goldman Sachs-led consortium bought Associated British Ports for £2.8bn. The largest UK deal for a non-domestic company over the same period was directories business Yell Group’s £2.1bn takeover of Spain’s Telefónica Publicidad e Información.
That was followed by UK plumbing company Wolseley buying Danish building materials group DT Group for £1bn.
The value of deals completed between UK companies rose from £19.8bn to £22.3bn in the period.